US president Donald Trump’s sweeping tax-cut bill narrowly passed the House Budget Committee in a 17–16 vote, moving toward a full House vote later this week. All Democrats rejected it, but four conservative Republicans voted "present," allowing it to move forward following negotiations with GOP leaders and the White House.

The bill, which extends Trump's 2017 tax cuts, is expected to add $3-5trn to the $36.2trn national debt over the next decade. Republicans are still divided on how to offset the cost, with some seeking Medicaid cuts and the repeal of green energy tax credits—proposals others warn could hurt key voter groups, as reported by Al Jazeera.

Treasury Secretary Scott Bessent defended the bill, claiming it would boost economic growth enough to outweigh debt concerns. But Moody’s, following downgrades from Fitch and S&P, cited soaring debt and downgraded the US credit rating, warning it could reach 134 percent of GDP by 2035.